Hong Kong SAR

China Construction Bank (Asia) has priced a two year dim sum amid a market sentiment that is less than favourable for dim sum issuance. However like other recent deals from state-owned banks, this latest trade was driven more by diplomacy than funding needs.

In this round-up, new RMB mini metals contracts coming on HKEx, Singapore Exchange and EBS to launch CNH block futures, Turkey renewed its RMB swap line, and Morgan Stanley said one of its funds will start trading via the Shanghai-Hong Kong Stock Connect link.

A group of Chinese city commercial banks are looking to catch the year end window for IPOs, opening books on their Hong Kong listings over the coming weeks. But thorny issues around valuations for China’s state assets mean friends and family style deals will once again rear their head, writes John Loh.

Standard Chartered is continuing to make a raft of changes to its business, dismantling its project finance operations in Hong Kong and seeing some senior departures.

UBS is planning to swap senior members of its China onshore and offshore teams as it looks to further strengthen its mainland business, according to an internal memo seen by GlobalCapital Asia.

Bank of East Asia (BEA) has set the minimum coupon of its upcoming additional tier one issue at 5.5%, according to an announcement by the Hong Kong lender on November 18.

Hong Kong Exchanges and Clearing (HKEx) is shaking up its group structure, announcing a new chief operating officer as it gears up to launch a fresh strategic plan for 2016-2018.

Hong Kong property company New World Development has picked banks to arrange investor meetings ahead of a proposed dollar offering.

Flat Glass Group Co has covered books for its HK1.21bn ($155.61m) IPO in Hong Kong, with the trade likely to price in the lower half of its marketing range, said sources close to the situation.

The Hong Kong Stock Exchange (HKEx) plans to extend renminbi settlement operational hours for the Shanghai-Hong Kong Stock Connect in April 2016 in a bid to solve the outstanding settlement issues, a senior officer told GlobalRMB at the sidelines of event to celebrate the schemes’ one year anniversary.

Victory City Co has approached the syndicated loan market for a HK$2.388bn ($308m) fundraising that has seven bookrunners at the helm.

Hong Kong property developer Lai Sun Development (LSD) is seeking HK$924.3m ($119m) by way of a rights issue, announcing a one-for-two offering on Tuesday.